Balancer eyes wind-down after restructuring fails to revive revenue
Balancer has proposed an orderly wind-down after a post-exploit restructuring failed to restore enough revenue. CEO Marcus Hardt said the November $128 million exploit continued to hurt adoption and that v3 growth never replaced declining v2 revenue. Monthly protocol revenue dropped sharply after the exploit and kept falling into 2026. The plan would phase out new business development, move supportable pools to withdrawal-only, and keep only minimal infrastructure for exits. The DAO would be dissolved, with up to $400,000 reserved for shutdown costs. Balancer’s remaining treasury, worth over $9 million, would be distributed pro rata to BAL holders through scheduled burns and payouts, with the first distribution expected in May 2027. BAL holders will vote on the proposal in a snapshot scheduled for Sept. 25–29.
